It's time insurers curb construction theft

According to the National Insurance Crime Bureau, more than 800 pieces of construction equipment were stolen in the US from January 1993 through 1994. All kinds of criminals, from small-time thieves to organized gangs, are stealing the equipment, which is often bought by competing construction firms. Much of the problem is that no standardized system exists for cataloging and tracking large pieces of equipment. The Crime Prevention Program of Southern California is one of the few in the US set up to combat construction theft, working with law enforcement agencies and the insurance industry to educate construction firms on ways to prevent potential losses. The insurance industry must take a closer look at this growing problem.